Sunrise Achieves Significant Milestone with Delivery of 5,800 Tons to HiTHIUM, a Global Leading Energy Storage Battery Manufacturer
Sunrise New Energy has delivered 5,800 tons of energy storage material to Xiamen HiTHIUM, a global leader in energy storage battery manufacturing. This delivery is part of a larger 25,000-ton order. Starting June 2024, Sunrise will deliver 2,500 tons monthly to fulfill the order. The company emphasizes high quality and efficiency in production. Sunrise has also launched a 24/7 live broadcast on its website for real-time monitoring of its operations. Xiamen HiTHIUM, ranked among the top five in energy storage battery shipments in 2023, chose Sunrise as a core supplier, highlighting its product quality. Chairman Haiping Hu noted this milestone furthers their commitment to meeting global needs and sustainability.
- Delivered 5,800 tons of energy storage material to Xiamen HiTHIUM.
- Part of a larger 25,000-ton order shows significant demand.
- Stable monthly delivery plan of 2,500 tons starting June 2024 indicates sustained revenue.
- High-quality production processes noted.
- 24/7 live broadcast for transparency and investor confidence.
- Chosen by a top global energy storage battery manufacturer, indicating strong product reputation.
- None.
Insights
Financial Implications: The delivery of 5,800 tons of energy storage materials to Xiamen HiTHIUM indicates a strong revenue stream for Sunrise New Energy. Assuming competitive pricing, this contract alone could significantly enhance the company's financial health.
Revenue Projections: Assuming an average price of $1,000 per ton, the immediate revenue from this milestone delivery is approximately
Market Confidence: The commitment from HiTHIUM, a top-tier global energy storage player, adds credibility to Sunrise New Energy’s capabilities. Investors might view this as a validation of the company's market position and product quality, which could positively impact stock prices in the short term.
Rating: 1
Industry Relevance: The energy storage sector is growing rapidly, driven by the increasing adoption of renewable energy sources and the need for efficient storage solutions. HiTHIUM’s ranking among the top five in global energy storage battery shipments underscores the significance of their endorsement of Sunrise New Energy’s products.
Competitive Advantage: The successful delivery and the ongoing stable supply agreement highlight Sunrise New Energy's operational efficiency and reliability, critical factors for gaining and retaining market share in a competitive industry.
Transparency and Trust: The 24/7 live broadcast of production processes is an unusual but noteworthy move. It could build investor trust by showcasing transparency and the company's commitment to maintaining high standards of quality and efficiency. This might differentiate Sunrise New Energy from competitors who do not provide such visibility into their operations.
Rating: 1
ZIBO, China, June 24, 2024 (GLOBE NEWSWIRE) -- Sunrise New Energy Co., Ltd. (“Sunrise New Energy”, the “Company”, “we” or “our”) (NASDAQ: EPOW), today announced the successful delivery of 5,800 tons of energy storage material to Xiamen HiTHIUM Energy Storage Technology Co., Ltd. (Xiamen HiTHIUM) by June 23, 2024. As part of the 25,000 tons energy storage material order, Sunrise New Energy will now commence a stable monthly delivery of 2,500 tons starting in June 2024 to fulfill the remaining quantity.
Sunrise New Energy has been maintaining high quality and efficiency in its production processes. In an innovative move, the Company has launched a 24/7 live broadcast on its official website (https://www.sunrisenewenergy.com/#/video ), allowing customers and investors to monitor the Company's production and operations in real-time, demonstrating its commitment to openness and transparency.
Xiamen HiTHIUM, a global leader in energy storage battery manufacturing, ranked among the top five worldwide in energy storage battery shipments in 2023 and listed in the Global Top 500 New Energy Enterprises. Xiamen HiTHIUM’s choice of Sunrise New Energy as a strategic core supplier underscores its high regard for the quality of Sunrise New Energy’s products.
“We have already achieved stable mass production and delivery, marking a significant milestone for us. Through our collaboration with HiTHIUM, we are prepared to deliver cutting-edge products to meet the evolving needs of global customers, contributing to a more sustainable future.” stated Mr. Haiping Hu, Chairman of Sunrise New Energy.
About Sunrise New Energy Co., Ltd
Headquartered in Zibo, Shandong Province, China, Sunrise New Energy Co., Ltd., through its joint venture, is engaged in the manufacturing and sale of graphite anode material for lithium-ion batteries. The Company's joint venture has completed the construction of a manufacturing facility with a production capacity of 50,000 tons in Guizhou Province, China. The plant runs on inexpensive electricity from renewable sources, which helps to make Sunrise New Energy a low-cost and low–environmental-impact producer of graphite anode material. Mr. Haiping Hu, the founder and CEO of the Company, is a major pioneer for the graphite anode industry in China starting from 1999. The Company’s management team is also composed of experts with years of experiences and strong track-records of success in the graphite anode industry. In addition, the Company also operates a knowledge sharing platform in China. For further information, please visit the Company’s website at www.sunrisenewenergy.com. The Company maintains a Twitter account (@sunrisenewener1) to keep investors up to date on the latest development of the Company.
Forward-looking statement
Certain statements in this press release regarding the Company's future expectations, plans and prospects constitute forward-looking statements as defined by Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about plans, goals, objectives, strategies, future events, expected results, assumptions and any other factual statements that have not occurred. Any words that refer to "may", "will", "want", "should", "believe", "expect", "expect", "estimate", "estimate" or similar non-factual words, shall be regarded as forward-looking statements. Due to various factors, the actual results may differ materially from the historical results or the contents expressed in these forward-looking statements. These factors include, but are not limited to, the company's strategic objectives, the company's future plans, market demand and user acceptance of the company's products or services, technological updates, economic trends, the company's reputation and brand, the impact of industry competition and bidding, relevant policies and regulations, the ups and downs of China's macroeconomic conditions, the relevant international market conditions, and other related risks and assumptions disclosed in the Company’s Annual Report on Form 20-F published on the SEC’s website. In view of the above and other related reasons, we urge investors to visit the SEC’s website and consider other factors that may affect the Company's future operating results. The Company is under no obligation to make public amendments to changes in these forward-looking statements unless required by law.
For more information, please contact:
The Company:
IR Department
Email: IR@sunrisenewenergy.com
Phone: +86 4009919228
FAQ
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